| Personal Debt - is it really that bad ???? 23:43 - Jan 1 with 904 views | TheHappyGooner |
They say the average household is £8,000 in personal debt - some are much more.
This is apart from the mortgage.
Is it possible to be debt free nowadays or is that simply unrealistic ?
Id like to know thoughts on this as people seem to be snared in one or more of the following :
Credit cards
Overdrafts
Loans of various sorts
👠[Post edited 1 Jan 2019 23:44]
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| Personal Debt - is it really that bad ???? on 09:35 - Jan 2 with 870 views | noah4x4 |
The mess Blair/Brown & co left us in has sadly been forgotten by too many. Today's society isn't "austere". It is simply a return to what existed before the era of buy/borrow today, regret tomorrow, be that personal or Government borrowing.
I had to save a 10% deposit to get my first house. I had to borrow 5x annual salary when I first moved to Essex. I struggled for thirty years. People don't need to upgrade their £50 a month mobile phone every year. People don't need any of the modern indulgences that my generation never had. Folk today have no idea of the meaning of true austerity unlike those of us that lived through the immediate post war era. It is now buy today, borrow today, regret tomorrow. Utter financial madness!
My childhood was in poverty by todays standards. We didn't even have an inside lavatory. My father ate cornflakes to collect the plastic soldiers for my Christmas present. But people now envy my prosperous retirement, achieved by hard work, sacrifices, thrift and no borrowing (except mortgage). My father was unable to borrow a penny and that was how I was brought up respecting thrift and restraint. Addiction to debt, like addiction to gambling, alcohol or smoking is wholly avoidable. Rant over. |  | | |
| Personal Debt - is it really that bad ???? on 10:24 - Jan 2 with 863 views | TheHappyGooner |
| Personal Debt - is it really that bad ???? on 09:35 - Jan 2 by noah4x4 |
The mess Blair/Brown & co left us in has sadly been forgotten by too many. Today's society isn't "austere". It is simply a return to what existed before the era of buy/borrow today, regret tomorrow, be that personal or Government borrowing.
I had to save a 10% deposit to get my first house. I had to borrow 5x annual salary when I first moved to Essex. I struggled for thirty years. People don't need to upgrade their £50 a month mobile phone every year. People don't need any of the modern indulgences that my generation never had. Folk today have no idea of the meaning of true austerity unlike those of us that lived through the immediate post war era. It is now buy today, borrow today, regret tomorrow. Utter financial madness!
My childhood was in poverty by todays standards. We didn't even have an inside lavatory. My father ate cornflakes to collect the plastic soldiers for my Christmas present. But people now envy my prosperous retirement, achieved by hard work, sacrifices, thrift and no borrowing (except mortgage). My father was unable to borrow a penny and that was how I was brought up respecting thrift and restraint. Addiction to debt, like addiction to gambling, alcohol or smoking is wholly avoidable. Rant over. |
And may I say a brilliant rant .
Just what I was after.
Thank you very much for sharing x  | |
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| Personal Debt - is it really that bad ???? on 21:59 - Jan 2 with 829 views | GOSBTS |
| Personal Debt - is it really that bad ???? on 09:35 - Jan 2 by noah4x4 |
The mess Blair/Brown & co left us in has sadly been forgotten by too many. Today's society isn't "austere". It is simply a return to what existed before the era of buy/borrow today, regret tomorrow, be that personal or Government borrowing.
I had to save a 10% deposit to get my first house. I had to borrow 5x annual salary when I first moved to Essex. I struggled for thirty years. People don't need to upgrade their £50 a month mobile phone every year. People don't need any of the modern indulgences that my generation never had. Folk today have no idea of the meaning of true austerity unlike those of us that lived through the immediate post war era. It is now buy today, borrow today, regret tomorrow. Utter financial madness!
My childhood was in poverty by todays standards. We didn't even have an inside lavatory. My father ate cornflakes to collect the plastic soldiers for my Christmas present. But people now envy my prosperous retirement, achieved by hard work, sacrifices, thrift and no borrowing (except mortgage). My father was unable to borrow a penny and that was how I was brought up respecting thrift and restraint. Addiction to debt, like addiction to gambling, alcohol or smoking is wholly avoidable. Rant over. |
Amen, amen and amen. 100% agree (and I'm only 27 so from this current over-indulged generation)! |  | | |
| Personal Debt - is it really that bad ???? on 22:49 - Jan 2 with 819 views | TheHappyGooner |
| Personal Debt - is it really that bad ???? on 21:59 - Jan 2 by GOSBTS |
Amen, amen and amen. 100% agree (and I'm only 27 so from this current over-indulged generation)! |
I’m surprised you agree
I thought your generation felt short changed | |
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